Global Procure - to - Pay (P2P) Outsourcing market has been segmented
on the basis of end use industry and geography. Based on end use
industry, global Procure - to - Pay (P2P) Outsourcing market is
bifurcated into manufacturing, energy and utilities, banking,
financial services and Insurance (BFSI), telecom, Information
technology and healthcare among other sectors. Business process
outsourcing (BPO) organizations are installing this type of solution
for their various operation which includes pay-related purchase
orders, payment records and invoices. With the help of this solution
paper-based documentation is getting reduced which in turn is less
confusion and chaos during the time of all finance related the
extraction and indexing of all information. The massive rise in usage
of in BPO sectors is one of the key factors bolstering the usage of
Procure - to - Pay (P2P) Outsourcing technology across the globe. In
every organizations are now investing significant amount of capital
to procurement of procure-to-pay outsourcing process during the every
year which in turn is expected to increase productive uses by
optimizing procurement process. Additionally, owing to various
advantages such as eliminating processing errors, automating manual
tasks, reducing transactional cost, optimizing processes and
enhancing data quality is procurement operations to deliver higher
efficiencies and savings is expected to bolster the demand of this
technology across the manufacturing organization during the forecast
period. P2P outsourcing vendors are now using analytical solutions in
the procurement planning process to increase detect fraudulent
activities and increase the accuracy in the manufacturing processes.
On the flip side, system integration challenges, lack of effective
service communication is hindering the growth of this product market
in coming years.
Geographically, global Procure - to - Pay (P2P) Outsourcing market
has been segmented into North America, Europe, Asia Pacific, Middle-
East and Africa (MEA) and Latin America. In 2016, North America held
the largest Market share in the Procure - to - Pay (P2P) Outsourcing
market across various regions. In addition, owing to the growing P2P
outsourcing activities in the government as well as in private sector
organizations, North America growth is expected to remain as a major
contributor for this product market. Owing to significant economic
growth in manufacturing and BFSI segment in China, the U.S and the
U.K among others are major market for this Procure - to - Pay (P2P)
Outsourcing market.
The major companies in the global Procure - to - Pay (P2P)
Outsourcing market are Accenture (Ireland), Capgemini (France), IBM
(the U.S), Infosys (India), Tata Consultancy Services (India),
Genpact (Bermuda), Corbus (the U.S), HCL Technologies (India),
Optimum Procurement (the U.K) and Xchanging (the U.K) among others.
The report offers a comprehensive evaluation of the market. It does
so via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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